(Ecofin Agency) – Food products in the vegetables, tubers and plantains category in Ghana recorded the highest inflation rate, reaching 46.1% in December 2024.
In Ghana, prices of food and non-alcoholic beverages increased by 27.8% in December 2024, marking the fourth consecutive increase. L’information comes from the Ghana Statistical Service (GSS) statistical bulletin published on Wednesday January 8, 2025.
According to the document, in August 2024, the food inflation rate was 19.1% and increased by 3 percentage points to 22.1% in September. It continued to grow to 22.8% in October and 25.9% in November 2024.
This increase is mainly driven by products in the vegetables, tubers and plantains category, the rate of which rose to 46.1%.
Non-food inflation, for its part, decreased in the last quarter of the year, going from 21.5% in October to 20.3% in December.
In short, the general inflation rate in Ghana rose to 23.8% in December 2024, extending the upward trend started since September, when it reached 21.5%, compared to 20.4% in August.
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These trends are recorded in a context where the country is facing a drought which is affecting the harvest in the main production areas located in the north of the country. A situation which pushed the Ghanaian government to to forbid until further notice shipments of consumer grains such as rice, corn and soybeans.
As a reminder, Ghana is in the process of restructuring its public debt after having defaulted on part of its external debt since 2022, following economic difficulties. According to the World Bankthe country implemented a strict monetary policy and stable exchange rates which helped reduce inflation to 23.2% in December 2023 from 54.1% in December 2022.
Lydie Mobio (Intern)
Edited by MF Vahid Codjia
